Swift CFO sees smaller carriers going bankrupt

Nov. 14, 2002
Swift CFO sees smaller carriers going bankrupt
The high costs of insurance and a lack of liquidity will drive more trucking companies into bankruptcy and keep others from expanding, said Swift Transportation Co. CFO Bill Riley.

Addressing the Salomon Smith Barney Transportation Conference yesterday, Riley said the insurance and liquidity issues will only benefit larger carriers, such as Phoenix-based Swift.

Riley said many carriers are raising their deductibles and lowering the upper end of their umbrella coverage to cope with rising insurance premiums. He added that those carriers risk insolvency in the event of serious accidents.

About the Author

Tim Parry

Sponsored Recommendations

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

How to Choose the Right Route Planning Solution

This free buyer's guide will help equip you with the knowledge and insights needed to analyze route planning software and vendors in the market and, ultimately, make an informed...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!